48 online
 
Most Popular Choices
Share on Facebook 12 Printer Friendly Page More Sharing
General News   

Financial Depression Spreads Among Seniors

By       (Page 1 of 2 pages)   1 comment
Message Sherwood Ross
Become a Fan
  (46 fans)

President Obama has U.S. taxpayerspaying billions to meetthe costly payrolls of 50,000 troops and 190,000 contractors in Iraq alone while 20-million-plus jobless are looking for work in USA and can't find it.


Among the hardest hit now are more than 2-million people age 55 and over, half of whom have been looking for work for six months or longer. For them, the Great Recession is a no-fooling, deepening Depression.


Many of these seniors have no families to care for them. Others are too proud to ask their families, churches, or relief agencies to help them in their time of need. Even so, many a proud, independent, well-dressed senior is a soup kitchen regular because it's either that or go hungry.


Seniors who have been loyal to a corporation for much or all of their working lives have discovered the corporation has no loyalty to them. Instead, their employer laid them off before the retirement age and hired a younger, cheaper worker to replace them or just shipped their job to an office or plant on foreign soil. Many seniors are right to feel betrayed.


"The unemployment rate for this age group actually reached 7.1 percent in May, the highest it's been since the late 1940s," writes A. Barry Rand, chief executive officer of the AARP in his September "Bulletin." That's more than double the 2005 rate of 3 percent.


"African Americans and Hispanics have been hit especially hard," Rand adds. He points to a Labor Department study showing over-65 workers outnumber teenagers in the workforce for the first time since 1948.


"And AARP's own research finds that more and more of our members want or need to keep working past traditional retirement age," he writes. That's likely because seniors are living longer and leading healthier lives.


Speaking for the AARP, Rand says, "We believe that anyone 50-plus who wants or needs to work should be able to work. It's not only essential to achieving financial security, it also benefits our economy."


But what do you do when the private sector fires you and the public sector refuses to spend the money to hire you? Washington knows darn well this country is short nurses, nursing aides, school-teachers, librarians, and clerks, to cite a few occupations. In city and county governments everywhere, employees are being laid off, forced to take furloughs, or are taking mandatory pay cuts while the Federal government spends more than half of every dollar collected from the taxpayers to make war.


Meanwhile, a Supreme Court largely made up of Republican appointees is making it tougher for seniors to fight against employers who wrong them. "In a case involving Iowa resident Jack Gross, the court ruled that evidence indicating age was a factor in job discrimination was no longer enough," writes Rand. "Now age must be the sole factor."

Next Page  1  |  2

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

Must Read 1   Well Said 1   Valuable 1  
Rate It | View Ratings

Sherwood Ross Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Sherwood Ross worked as a reporter for the Chicago Daily News and contributed a regular "Workplace" column for Reuters. He has contributed to national magazines and hosted a talk show on WOL, Washington, D.C. In the Sixties he was active as public (more...)
 
Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

 
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

U.S. Overthrow in the Ukraine Risks Nuclear War With Russia

Radioactive Ammunition Fired in Middle East May Claim More Lives Than Hiroshima and Nagasaki

Obama Expands the American Warfare State

NSA MAY BE READING WINDOWS SOFTWARE IN YOUR COMPUTER

Inside America's Biological Warfare Center

Is George W. Bush Sane?

To View Comments or Join the Conversation:

Tell A Friend